Highlights

• TIP KPI report 2021-2024 spotlights CO₂ intensity reduction and growth in renewable electricity.
• Responsible sourcing rationalised, with supplier contract integration and third-party audits on the rise.
• TIP’s research on TRWP and ELT Management Hierarchy promotes circular solutions in the tyre sector.

The Tire Industry Project (TIP), a voluntary CEO-driven initiative that brings together ten of the largest tyre manufacturers, has released its latest KPI report, which shows progress from 2021 to 2024.

The paper, titled “Sustainability Driven: TIP's Progress Towards SDGs,” enumerates tangible results in sustainability within the sector, as well as tracks 16 Environmental, Social and Governance (ESG) KPIs under the seven pathways of the Tire Sector SDG Roadmap.

Read More: Definitions of Sustainability: A to Z Guide on Sustainability

This roadmap connects the sector's efforts with the UN Sustainable Development Goals (SDGs).

During the three-year period, TIP member companies achieved tangible results in climate action and energy efficiency, with CO₂ intensity falling by 26%, marking the lowest level since 2009. Besides, the use of renewable electricity grew by 121%, and water withdrawals plummeted by 14%.

The report also logs progress in sustainable natural rubber, as all members continued participation in the Global Platform for Sustainable Natural Rubber (GPSNR) and reported under its framework.

Responsible sourcing efforts

By 2024, 80% of TIP members had introduced time-bound targets for responsible sourcing, more than double the number recorded in 2021.

Also, 70% of companies included these targets in supplier contracts, and 30% completed third-party audits.

Also Read: JK Tyre Receives $100m Sustainability Loan from IFC

The sector’s contribution to research and circularity

Publications sponsored by TIP on tire-derived microplastics (TRWP) increased by 75%, with citations in scientific literature rising by 175%, which indicates a rising influence on environmental science and emerging standards.

In addition, the End-of-Life Tire (ELT) Management Hierarchy was developed to guide stakeholders and governments toward more circular solutions for tyre recycling.

Larisa Kryachkova, Executive Director of TIP, said: “Data-driven reporting is the cornerstone of credibility. This KPI report shows how our members are turning commitments into measurable results, driving change that extends across the value chain.

“As TIP marks its 20th anniversary, it's inspiring to see how far stakeholder collaboration and science have taken us - and how much more we can achieve together in the years ahead."

Ends/

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Source: Morningstar